Acetic Acid Prices

Acetic Acid Prices June 2024

The acetic acid prices in Q2 2024 reached 736 USD/MT in June across the United States. The country saw an increased cost of feedstock methanol and a higher production expense just because of higher natural gas prices. The market showcased resilience during the quarter, along with strategic responses to shifting economic conditions supporting a stable supply to meet both domestic and international demand.

The price trend for acetic acid in Japan for Q2 2024 was 435 USD/MT in June. The market witnessed a decline the product price, thereby reflecting a negative market sentiment. Seasonality also contributed to the downward trend because of the falling prices in the second half of the quarter as compared to the first half. This trend was further worsened by minimal demand from the construction sector.

In Germany, the acetic acid prices for Q2 2024 reached 760 USD/MT in June. The market experienced significant price changes within the country, with a notable increase in prices owing to sustained construction demand and foreign direct investment, regardless of labor shortages and strike actions. In addition, seasonality influenced the market due to higher restocking activities in anticipation of the holiday season.

Saudi Arabia’s acetic acid prices for Q2 2024 reached 335 USD/MT in June. Notable volatility in product prices was observed in the country. The overall trend included periodic increases, which can be attributed to a surge in the demand from the construction sector. High inventory levels and stable methanol prices further led downward pressure on the market.   

Acetic Acid Prices March 2024

The acetic acid prices in Q1 2024 reached 625 USD/MT across the United States. The country saw stable market dynamics as prices showed no change in contrast with the same quarter of the previous year. Despite some disruptions like shutdown of the plants on account of weather fluctuations impacting some companies, production process restarted within a week, showcasing resilience in the industry.    

The price trend for acetic acid in South Korea for Q1 2024 was 430 USD/MT (glacial) in March. The market witnessed a price decline because of lackluster demand emerging from a key consuming sector. The availability of feedstock at a low price and high inventory levels further reduced the prices.

In Saudi Arabia, the acetic acid prices for Q1 2024 reached 355 USD/MT in March. The market saw a downward trend on account of the reduced application in the downstream sector and an oversupply in the market. The affordable cost of methanol, which is a critical feedstock, also contributed to decreased production costs, resulting in lower acetic acid prices.

Acetic Acid Prices December 2023

The acetic acid prices in the United States for Q4 2023 reached 595 USD/MT in December. The region witnessed stable acetic acid supply, but prices fell due to decreased demand from the construction sector and high inventory levels. The market faced additional pressure from lower methanol costs, although natural gas production remained stable.

The price trend for acetic acid in South Korea for Q4 2023, reached 491 USD/MT in December. The market experienced sharp price declines due to a significant supply shortage following the shutdown of a major production plant. High inventories and rising production costs for natural gas and coal further pressured prices. The bearish market sentiment was also influenced by weak demand from downstream industries, contributing to the ongoing price reductions.

The price trend for acetic acid in Belgium for Q4 2023, reached 769 USD/MT in December. The market remained stable throughout the quarter, with prices largely unchanged due to consistent feedstock methanol costs and high inventory levels. Although production costs rose due to increased natural gas prices, the market experienced minimal quarter-to-quarter fluctuations. However, a slight year-over-year price decrease was observed, reflecting the market’s overall stability amidst these conditions.

The price trend for acetic acid in Saudi Arabia for Q4 2023, reached 389 USD/MT in December. The market witnessed stable pricing throughout the quarter mainly driven by moderate supply. A slight price increase was noted, influenced by anticipated higher production costs due to rising coal prices. High inventory levels and stable methanol prices contributed to the market’s overall steadiness, with potential future impacts expected from changes in key feedstock costs.

Regional Coverage

The report provides a detailed analysis of the acetic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the acetic acid price trend.

Global Acetic Acid Price

The report offers a holistic view of the global acetic acid pricing trends in the form of acetic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into acetic acid historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into acetic acid price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed acetic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Acetic Acid Price

Q2 2024:

European acetic acid market demonstrated a consistent upward price trajectory, supported by several key factors in Q2 2024. Stable methanol prices and strong requirement in the construction sector were primary drivers of this bullish sentiment. Furthermore, various geopolitical conflicts prompted supply chain interferences, elevating freight costs while creating complexities in logistics. Germany saw a notable increase in prices on account of FDIs and sustained construction demand. Besides this, the end quarter indicated a constant pricing environment, coupled with a cautiously optimistic market sentiment.     

Q1 2024:

During Q1 2024, the market in Europe witnessed a declining trend due to several interconnected trends. The main factor was the methanol performance, which observed reduced pricing linked to constant or lowered contract prices from suppliers. This was further worsened by excessive inventory levels in the market, thereby exerting declined pressure on product prices. In addition to this, import prices from China remained steady and did not contribute to any uplift in acetic acid pricing.                     

Q4 2023:

During Q4 2023, the European acetic acid market demonstrated stability, driven by consistent imports and ample inventories, which kept prices relatively unchanged from Q3 2024. The market was marked by significant destocking activities and rising production costs, particularly due to increased natural gas prices. Despite a high level of inventories and steady contract prices for feedstock methanol, acetic acid prices experienced a slight decrease compared to the same period last year. In Belgium, the market remained stable without any plant shutdowns, though the overall trend showed minor price increases throughout the quarter. The European market faced a balance between steady supply and variable demand, maintaining overall price stability.

This analysis can be extended to include detailed acetic acid price information for a comprehensive list of countries.

North America Acetic Acid Price

Q2 2024:

North America's acetic acid market observed a price surge because of a higher cost of feedstock methanol in Q2 2024. The market exhibited a surge in the manufacturing expenditure owing to a higher price of natural gas. Demand from downstream sectors reinforced this upward trend as derivatives like ethyl acetate and butyl acetate saw robust demand. In addition, inventory levels were relatively low, however a proactive restocking strategy helped maintain a stable market flow. The United States experienced the largest price changes.     

Q1 2024:

The North American acetic acid market observed steady conditions in Q1 2024, driven by stable need in the downstream sector and consistent supply dynamics. Ongoing destocking activities led to market stability while no main plant shutdowns were recorded. Moreover, high demand from the construction sector, which is supported by favorable government initiatives that are focusing on the improvement of the workforce via community college programs, along with apprenticeship, indicated a positive market trend.       

Q4 2023:

In Q4 2023, the North American acetic acid market experienced steady supply levels with plants operating consistently. However, demand from downstream industries, particularly the construction sector, was weak, leading to lower prices. High inventories further pressured the market, causing a notable price decline. Although feedstock Methanol prices remained low, stable natural gas production provided some cost stability. Overall, the acetic acid market in North America faced challenges due to sluggish demand and high inventory levels, with international demand expected to stay firm in the coming months.

Specific acetic acid historical data within the United States and Canada can also be provided.

Middle East and Africa Acetic Acid Price

Q2 2024:

The acetic acid market in the Middle East and Africa region in Q2 2024 exhibited a significant fluctuation driven by several factors. The market witnessed a high pricing trend prices because of the expanded manufacturing expenditure stemming from a rise in crude oil prices. This was compounded by a marked increase in feedstock methanol prices, which escalated manufacturing expenses. The construction sector showcased a strong demand, which exerted upward pressure on prices despite a tepid global economic recovery. However, significant inventory levels led traders to implement periodic price stabilization efforts.

Q1 2024:

In the Middle East and Africa region, the first quarter of 2024 saw a significant drop in acetic acid prices, marking a negative pricing environment, especially in Saudi Arabia. This downward trend was driven by an oversupply in the market and lowered demand from downstream industries. The low cost of methanol further contributed to lowered production costs. In line with this, there was a marked various change in the first and second halves of the quarter, with prices falling by a significant percentage.           

Q4 2023:

Throughout Q4 2023, the acetic acid market in the MEA region demonstrated stability, characterized by balanced supply and demand. Price trends were influenced by an anticipated surge in global demand and reduced local inventories as the festival season commenced. In Saudi Arabia, acetic acid prices experienced a slight uptick, driven by stable market conditions and expected increases in production costs due to rising coal prices. Despite high inventory levels, price growth was constrained, with potential future impacts from Methanol cost fluctuations. Overall, the market dynamics were shaped by consistent supply, steady demand, and anticipated changes in key feedstock prices.

In addition to region-wise data, information on acetic acid prices for countries can also be provided.

Asia Pacific Acetic Acid Price

Q2 2024:

In the Asia Pacific region, the market witnessed varied trends in the second quarter of 2024. The market saw a significant drop in prices, which can be accredited to the weak cost of feedstock methanol, which remained volatile and adversely affected downstream production costs. Moreover, increased inventory levels allowed traders to provide various discounts as demand from major sectors, like construction and acetate, was subdued. Market dynamics were further propelled by external factors, notably China's economic activities and rising coal prices.  

Q1 2024:

In Q1 2024, the Asia Pacific region witnessed a decrease in acetic acid prices, driven by various factors like declined demand from downstream industries, particularly from the construction sector, decreased feedstock prices, and excess supply. South Korea exhibited the most significant changes within the region, aligning with the overall downward trend. Product prices declined sharply because of lackluster demand from the construction sector in South Korea. Besides this, the market witnessed a downward pressure on prices on account of the availability of lower-priced feedstock and high inventory levels.      

Q4 2023:

In the Asia-Pacific region during Q4 2023, the acetic acid market was affected by several factors that drove prices down. High inventory levels led to lower prices, compounded by increase in production cost due to rising natural gas and coal prices. Demand from downstream industries remained weak, further pressuring the market. South Korea saw significant price declines, largely due to the shutdown of LG Chem’s acetic acid plant in Daesan, which created a supply shortage. This disruption, along with reduced demand, caused substantial decreases in prices compared to both the previous quarter and the same period last year. The overall market sentiment was bearish, influenced by supply constraints and rising production costs across the region.

This acetic acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Acetic Acid Price

The analysis of acetic acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Acetic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Acetic Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of acetic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of acetic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of acetic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing acetic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Acetic Acid Market Analysis

The global acetic acid market size reached US$ 11.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 19.5 Billion, at a projected CAGR of 5.50% during 2023-2032.

• The acetic acid market is driven by its important role in the manufacturing of vinyl acetate monomer (VAM), which is extensively used in the production of polyvinyl alcohol and polyvinyl acetate.
• The growing consumer preferences for processed foods and condiments has elevated the consumption of vinegar globally, further stimulating the acetic acid market growth. Acetic acid is commonly found in household vinegar, typically at a 5% concentration.
• The acetic acid market is driven by the increasing demand for vinegar, which is a dilute solution of acetic acid. In 2021, the top importers of vinegar and substitutes for vinegar derived from acetic acid were the United States, Germany, France, the United Kingdom, and Canada.
• The expanding use of acetic acid in the pharmaceutical industry highlights its versatility and indispensability. A study has investigated how acetic acid improves the solubility of weakly basic drugs used in spray dried dispersion manufacture. This compound serves as the key solvent in the production of various medicines, and as a processing aid, it significantly improves these drugs' organic solvent solubility, resulting in comparable dissolution rates and supersaturation retention to traditional methods. This study demonstrates the potential of acetic acid in improving drug solubility for pharmaceutical applications.

Acetic Acid News

The report covers the latest developments, updates, and trends impacting the global acetic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in acetic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the acetic acid price trend.

Latest developments in the acetic acid industry:

• In 2024, Climate tech startup Again partnered with HELM to distribute and sell acetic acid, leveraging HELM's experience and global network for the first 50,000 tons production. The collaboration focuses on sustainability, offering low carbon footprint chemical products to various industries, emphasizing decarbonization and environmental responsibility. The 10-year contract will bring together HELM's 120 years of experience and Again's technical expertise in fermenting waste CO2 emissions.
• In 2023, KBR, a multinational engineering group based in the United States, acquired an acetic acid technology called Acetica for an undisclosed sum. Chiyoda of Japan owns and developed the carbonylation technology, which produces acetic acid from methanol and carbon monoxide.

Product Description

Acetic acid is a colorless organic compound with the chemical formula CH3COOH. Acetic acid is generally known for giving vinegar its sour taste and pungent smell. It is one of the simplest carboxylic acids and is a key chemical reagent and industrial chemical, which is used in the production of cellulose acetate for photographic film, polyvinyl acetate for wood glue, and synthetic fibers and fabrics. Apart from its industrial and domestic uses acetic acid is also an important chemical reagent that is used in a variety of chemical processes including synthesis of chemical compounds. The global demand for acetic acid is substantial, driven by its widespread use in adhesives, plastics and food industries showcasing its versatility and essential role in modern manufacturing and processing industries.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of acetic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting acetic acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The acetic acid price charts ensure our clients remain at the forefront of the industry.